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This Is Not What Banks Were Meant To Be
Saturday, January 23, 2016 0:50
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by Michael Hudson, New Economic Perspectives
Appeared originally at New Economic Perspectives 27 January 2012.
What Will The Future od Bank Be? What Is The Governments Proper Financial Role?
The inherently symbiotic relationship between banks and governments recently has been reversed. In medieval times, wealthy bankers lent to kings and princes as their major customers. But now it is the banks that are needy, relying on governments for funding – capped by the post-2008 bailouts to save them from going bankrupt from their bad private-sector loans and gambles.
Source: http://econintersect.com/pages/opinion/opinion.php?post=201601230116
